F1 says it will drop races with 'unattractive' deals from its calendar

Formula 1 boss Chase Carey says he will drop races that have "unattractive" agreements with the championship, and replace them with deals negotiated by the new management

F1 says it will drop races with 'unattractive' deals from its calendar

The only new race confirmed on Carey's watch is Vietnam, which is scheduled for 2020. However, he has regularly stated there's extensive interest from potential hosts, and that the calendar could extend to up to 25 races in the future.

Meanwhile the futures of several classic events, including the British Grand Prix at Silverstone, remain in doubt once deals negotiated by Bernie Ecclestone run out.

Speaking during a conference call for Liberty investors, Carey stressed the new owners are working more closely with race promoters to put on a good show, suggesting that in the past events were "stale".

"The promotion end of our business has been viewed as more mature than other revenue streams in F1," he said.

"This perception was fuelled by a lack of investment or freshness by the prior regime in our events.

"Quite simply our events became stale, which led promoters to focus on costs as opposed to growth.

"Events today are more valuable than ever, and we have a world class premium event.

"We need to focus on maximising the value of our events, and communicating that to host locations.

"We're encouraged that the message is getting through to both existing and potential new host cities."

He stressed that a strong demand for new races to join the calendar will allow F1 to make better deals.

"We believe there is still potential growth, significant growth, in the promotion segment, during the next few years," he said.

"The growth will be driven by three factors. First, we expect to expand our calendar beyond our current 21-race schedule.

"The expansion will be modest, but we have been excited by the number, quality and diversity of new locations interested in hosting a race. We are on the right side of the quality of races or fees.

"Every race needs to be great for fans, and be an attractive business proposition.

"The race we announced in Vietnam last week is a prime example of an event that will provide a great track for racing in a location that captures the world's imagination.

"Second, we expect to replace a few existing races where we inherited unattractive agreements, with new events or agreements, that are better for racing and provide more value.

"Third, there is significant long-term value in our higher-end hospitality experience.

"Major events today increasingly rely on those customers willing and able to pay for unique and tailored experiences, both in the corporate and retail end."

A future 25-race schedule is not popular with the teams, and one option that has been discussed in recent meetings is to hold most events over just two days, with only a limited number including a Friday of testing, probably at venues that traditionally pull a full crowd every day.

Those Fridays could also replace the current four days of in-season testing. Another suggestion is to move more of the current Thursday activity into Fridays.

shares
comments
Ferrari believes 2018 was its strongest F1 season for a decade

Previous article

Ferrari believes 2018 was its strongest F1 season for a decade

Next article

Can Norris avoid McLaren's young driver scrapheap?

Can Norris avoid McLaren's young driver scrapheap?
Load comments

About this article

Series Formula 1
Author Adam Cooper
Why Mercedes isn't confident it's really ahead of Red Bull at Imola Plus

Why Mercedes isn't confident it's really ahead of Red Bull at Imola

While Mercedes struck back against Red Bull by topping the times at Imola on Friday ahead of the Emilia Romagna Grand Prix, the overall picture remains incredibly close. Despite having a possible edge this weekend, the reigning Formula 1 world champion squad is not taking anything for granted...

What Mercedes must do to keep its F1 title challenge on track Plus

What Mercedes must do to keep its F1 title challenge on track

Mercedes may find itself leading the drivers' and constructors' standings after Lewis Hamilton's victory in the Bahrain Grand Prix, but it is well-aware that it came against the odds, with Red Bull clearly ahead on pace. Here's what the Brackley team must do to avoid its crown slipping

Why Tsunoda can become Japan’s greatest F1 talent Plus

Why Tsunoda can become Japan’s greatest F1 talent

While Japan's fever for motor racing is well-documented, the country has yet to produce a Formula 1 superstar – but that could be about to change, says BEN EDWARDS

Formula 1
Apr 15, 2021
Why the demise of F1's hypocritical spending habit is cause for celebration Plus

Why the demise of F1's hypocritical spending habit is cause for celebration

For too long, F1's richest teams have justified being able to spend as much as they want because that's the way they've always conducted their business. STUART CODLING says that's no reason not to kick a bad habit

Formula 1
Apr 14, 2021
The double whammy that is defining Vettel’s F1 fate Plus

The double whammy that is defining Vettel’s F1 fate

It's been a tough start to Sebastian Vettel's Aston Martin F1 career, with a lack of pre-season testing mileage followed by an incident-packed Bahrain GP. But two key underlying factors mean a turnaround is not guaranteed

Formula 1
Apr 14, 2021
The diva that stole a march on F1’s wide-bodied opposition Plus

The diva that stole a march on F1’s wide-bodied opposition

In 2017 new F1 technical regulations were supposed to add drama - and peg Mercedes back. STUART CODLING looks at the car which, while troubled, set the stage for the wide-bodied Formula 1 era

Formula 1
Apr 13, 2021
The themes to watch in F1’s Imola return Plus

The themes to watch in F1’s Imola return

Three weeks is a long time in Formula 1, but in the reshaped start to the 2021 season the teams head to Imola to pick things up after the frenetic Bahrain opener. Here's what to look out for and the developments to follow at the Emilia Romagna Grand Prix

Formula 1
Apr 13, 2021
The 'new' F1 drivers who need to improve at Imola Plus

The 'new' F1 drivers who need to improve at Imola

After a pandemic-hit winter of seat-swapping, F1 kicked off its season with several new faces in town, other drivers adapting to new environments, and one making a much-anticipated comeback. BEN ANDERSON looks at who made the most of their opportunity and who needs to try harder…

Formula 1
Apr 12, 2021